Government has empowered financial Institutions to help sick and problem-ridden Industrial units make viable and capable or running at profit, reports UNB.

SfOk units have been advised to apply to the financial Institutions for their rehabilitation. rescheduling of debt, rebates and fresh loan, said an official source yesterday.

It said financing institutions are at liberty to consider the applications on the basis of commercial consideration and goodwill of the entrepreneurs.

If an application is rejected, the entrepreneurs may resubmit the proposal to a review committee formed by the government for reappraisal. Headed by the Chairman of Board of Investment, the committee consists of senior officials of the relevant ministries, Bangladesh Bank and

financial institutions.

The review committee is to examine the management practice, market for the products. production cost, profitability and risk of the industrial unit, the source said.

Application to the review committee should be submitted within 2 months of refusal by the financial institution, along with the objections of the bank.

The committee In its meeting on March 31 had considered 4 applications and recommended for rehabilitation of 2 units by waiving outstanding Interests.

It will now sit twice or thrice every month and consider applications of new entrepreneurs who have earlier failed to Obtain loans from banks. They have been advised to submit detailed Information to the committee.